Kraken Closes SWIFT & JPY Funding Accounts

Popular Exchange Kraken has emailed their customers that they will be closing SWIFT bank accounts, as well as JPY funding accounts at SMBC in Japan. Kraken is hugely popular in cryptocurrency industry, and this may come as some distress to some of it’s customers. The following email reads:
“We regret to inform you that due to a variety of circumstances, we will be closing the following SWIFT bank accounts, as well as our domestic JPY funding accounts at SMBC in Japan. Please note that SEPA Euro funding will not be affected. Cryptocurrency funding will continue as usual. (All dates mentioned below are represented in JST)

The Following Funding Accounts will be Closed on March 21st:USD, EUR, GBP (SWIFT)Account Name: Payward Japan K.K.Address: 3-11-10 Higashi, Shibuya-ku, TokyoBank name: Sumitomo Mitsui Banking Corporation (SMBC)Bank / branch location: 2-4-1 Hamamatsucho, Minato-ku, Tokyo 105-6101, JapanSWIFT code: SMBCJPJTAccount number: 6793010727Domestic JPYAccount name: ﾍﾟｲﾜｰﾄﾞｼﾞｬﾊﾟﾝ(ｶBank name: 三井住友銀行Branch name: 浜松町支店普通口座Bank code: 0009Branch code: 679Account number: 9602613Account Closure ScheduleDeposits received by midnight, March 20th, 2018 (Tues.) will be credited to your Kraken account as usual. On and after March 21st 2018, however, any newly received deposits will be returned to the originating bank account.Withdrawals requested by 12:00 PM on March 27th, 2018 will be processed and sent on March 28th, 2018. USD, EUR, and GBP withdrawals via SWIFT, and domestic JPY withdrawals requested after this time will not be processed, and the funds will be returned to your Kraken account.While this is a disappointing development, we are dedicating further resources to our banking relationships and the implementation of new funding methods. We will reach out to you again when we have further details to share.We sincerely apologize for the short notice, but please take care heed the above deadlines in order to minimize inconvenience.Thank you for your understanding and cooperation.The Kraken Team”Featured Image Source: Pexels

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